TF Global Markets (UK) Ltd and TF Global Markets (Aust) Ltd. both companies uses the same brand name of ThinkMarkets. Starting in New Zealand as ThinkForex, the company moved its headquarter in Australia and received regulation there. In 2015 the broker established an office in the UK under Financial Conduct Authority (FCA) regulation and now it claims to have clients in over 75 countries. ThinkMarkets offers more than 170 of most-traded currency pairs and contracts for difference (CFDs) on indices, precious metals and energy products.
Clients can trade either with the popular platform MetaTrader 4 (MT4), or with company’s own platform ThinkTrader. Both platforms are available as desktop, web-based and mobile versions. ThinkTrader provides useful features such as 1-click trading, technical analysis and advanced charting tools, integrated Autochartist, more than 100 indicators and a possibility to trade directly from the charts. Economic calendar and market news are integrated as well.
There are three types of accounts:
- Standard account requires a minimum deposit of USD250 and offers trade without commissions, a minimum contract size of 0.01 lot, 1 lot is 100,000 units and spreads for EUR/USD start from 0.4 pips. It is available on ThinkTrader platform only;
- Pro account requires a minimum deposit of USD2,000 and offers a minimum contract size of 0.01 lot, 1 lot is 100,000 units and spreads for EUR/USD start from 0.1 pips. It is available on MetaTrader 4 platform only and there is some commission for every deal;
- VIP account requires a minimum deposit of USD25,000 and offers a minimum contract size of 0.1 lot, 1 lot is 100,000 units and spreads for EUR/USD start from 0.1 pips. It is available on MetaTrader 4 platform only and the commission is negotiable.
Company claims to deliver market-driven, tight spreads for all currency pairs and ‘high-speed’ order execution. However, customers should be aware of the existence of slippage if there is low liquidity or high volatility and market orders can be executed at a different than shown in the platform price. Besides, stop loss orders are not guaranteed, and if there is a gap, pending orders will be executed at the first available price after the gap has triggered the order.
The maximum leverage is 1:400 applicable in forex trading and this could increase the risk of loss. And moreover, there is no negative balance protection so clients could owe money to the broker.
Execution policy shows that ThinkMarkets may take on the risk of client trades and positions by executing trades directly, or pass trades direct to a liquidity provider, using a Straight Through Processing (STP) arrangement. That means the company may act as a market maker and this could lead to potential conflicts of interests with customers.
THINK MARKET. GOT SCAMMED.
Hello guys.. just got robbed 48000 euros due to poor security measures at Think Market brokers in London. My account with them went from 50000 to 18 euros in 13 minutes. I got scammed – I recieved phone calls from people saying they were Think Market employees which were not. In fact the e mail address the “imposter” employees sent me was almost exactly the same as think markets support true e mail. Only a dash – of a difference. These imposters opened the account for me at Think Market and Think Market must have sent them my password thinking it got sent to me. After investigating Think Markets and seeing it was a seriouse operation I transfered money to London. Thats all I can make of it. Other than that I CANT UNDERSTAND HOW this could happen. A few days later after sending money to THINK MARKET in London I received a series of quick operations in my account -all at a loss- that left me with 18 euros. All in 13 minutes. I was called by the imposters and told my money would re-appear a few days later as it was being used for an investment. Since I never gave out my password I assumed it was all a think market operation. After a few days I STARTED TO FIND EVERYTHING did not add up.
I never – ever thought they could have such poor security measures. I will see them on monday. I called them and explained that I have never given out my password.
We will see if they are responsible and return my hard earned money.
Up to now I AM REALLY UPSET.
BE CAREFULL. I THINK THIS HAPPENED WITH AN INSIDE INFORMANT. Will update if they correct my account properly.
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